Telemedicine Statistics By Market Revenue, Region, Potential Time Saved, Speciality, Products And Service
Maitrayee Dey
Updated · Nov 12, 2024
WHAT WE HAVE ON THIS PAGE
- Introduction
- Editor’s Choice
- Telemedicine Key Facts
- Telemedicine Market Revenue
- Share Of Covered Used Telemedicine By Region
- Telemedicine Statistics By Potential Time Saved
- Telemedicine Time Save For Chronic Patients
- Telemedicine Used By Speciality
- Telemedicine Market Revenue By Products And Service
- Market Revenue From Online Doctor Consultation
- Recent Developments
- Conclusion
Introduction
Telemedicine Statistics: The concept of distance medicine has revolutionized the notion of health by making it possible to deliver services that were previously inaccessible by any means. Considering the improvements and availability of digital means of reaching patients, it is unsurprising that telemedicine is on the rise almost everywhere in the world.
In the year 2024, there will be a continuous rise in the usage of telemedicine services due to the heightened need for accessing health care remotely and the policies created to support e-health by the government. Let’s examine the telemedicine statistics industry more specifically by discussing the current trends in 2024.
Editor’s Choice
- According to telemedicine statistics, revenue from online doctor consultations is expected to grow tremendously. It is forecasted to increase further by $9.5 billion (36.14%) between 2024 and 2028, reaching $35.83 billion by 2028.
- The global adoption of telemedicine still stands at less than 10% of the population, with more than 70 % of the market share found in Latin America (77%) and Asia Pacific (76%) regions.
- Telemedicine statistics reveal that In North America, where 52% of adults engage in telemedicine services, the region was estimated to have a digital health revenue of $26.59 billion in the year 2023, with a 7.28% growth rate. The online segment of doctor consultations within North America is projected to attain $5.88 billion in 2023 at a rate of 5.36% increase.
- Compared to the forecast of, for example, $830m in 2019, the telemedicine market in India is expected to reach $4.19b by 2025, growing at $133m in online consultations in 2023.
- Central and Western Europe will also experience a growth of $2.83 billion in revenue in online consultations by 2023, which is expected to grow at 6.63% on average per year.
- In Eastern Europe, the segment narrows and is expected to attain $352.4 million by 2023, then expand by 9.48% by 2027.
- Telemedicine statistics indicate that telemedicine is also time-efficient; in Australia, this can save up to six hours in the scope of one year, and chronic patients in Italy may save up to 9.5 hours on a yearly basis.
- The patterns of usage were different. 53.9% of the respondents utilized telemedicine services for primary care, 63.3% for surgical specialties, and 41.5% for medical illnesses.
- Telemedicine statistics estimated that the telehealth market is anticipated to witness a rapid surge due to several factors. It is projected to value about $590.6 billion by 2032, majorly propelled by the penetration of cloud services, AI technology, and telemedicine devices.
- The overall share of AI systems in the healthcare field is envisioned to grow from $11 billion earned in 2021 to almost $188 billion by 2030.
- Revenue from online doctor consultations has increased tremendously, from $4.46 billion in 2017 to an anticipated $23.75 billion at the end of 2023.
Telemedicine Key Facts
- Telehealth or telemedicine, as it may be called in other practices, simply means the provision of health care services using telecommunication technologies. This approach gained criticality during the COVID-19 pandemic, as these measures aimed at preventing the gathering of at-risk groups in hospitals became a necessity.
- Apart from the concerns of the crisis, this sector has been propelled by other factors – for instance, the rising costs associated with traditional forms of health care and an upsurge in the development of telemedicine software.
- Already, telemedicine statistics indicate that patients are now used to the possibility of consulting remotely, particularly when it comes to less serious health issues, which is also an advantage for physicians and other healthcare providers.
- Telemedicine statistics show that By 2024, the number of online doctor consultations users across the globe had grown to more than 116 million, an increase from approximately 57 million in 2019.
- Even though the quick expansion experienced in 2020 and 2021 has since leveled off, the user base of people practicing telemedicine is projected to grow in the years to come.
- In the United States, it is quite common for telehealth to be extended to many areas, including non-generalist practices.
- The most prevalent telemedicine applications are for simple routine activities such as sick visit consultations and medication refills.
- Over half of Americans state that certain needs would better be served through virtual appointments, with nearly a third saying they would do so for visits to check on their mental health or for long-term illnesses.
- For telehealth services to be successful, their utilization by the patients had to be favorable, and thankfully, this has been the case.
- Telemedicine statistics reveal that countries that have embraced these technologies, like the US, have. In the US, as many as 87% of patients interviewed assert that telemedicine has made it easier for them to get the care that they need. The saving of time has been the most often mentioned advantage, together with the costs, as patients are not required to travel, sit in the reception area, or take care of the children.
- Despite this, there are issues in ensuring that such advantages are proportionate across the various demographics.
- Elderly people, who are, in most cases, the frequent recipients of health care, are the least interested in digital devices or do not have access to internet-enabled gadgets. These issues need to be tackled head-on in order to broaden the benefits of telemedicine to the audience that can use it the most.
Telemedicine Market Revenue
(Reference: statista.com)
- According to Telemedicine statistics, the revenue worldwide of the digital health market’s segment “Online Doctor Consultations” for the period between 2024 and 2028 is forecasted to increase by 9.5 billion U. S. dollars.
- This would also show a growth of 36.14% over four years.
- Following a period of eleven years of relentless growth, the revenue in this segment is forecasted to reach 35.83 billion U. S. dollars by 2028.
- This persistent growth rate can be attributed to the increasing growth rates and consumption of digital health services all around the world, where the majority are embracing online doctor consultations as a modern way of seeking healthcare.
(Reference: statista.com)
- Telemedicine statistics indicate that telemedicine adoption is defined by geographical regions: Global, Latin America, Asia Pacific, Europe, Middle East, and Africa. In general and in each of these areas, the utilization of telehealth services still affects less than 10% of the population therein.
- The distribution of Market Share is Global at 66%, Latin America at 77%, Asia Pacific at 76%, Europe at 53%, and Middle East and Africa at 76%.
- The highest share of the worldwide telemedicine market is generated by North America, which is quite logical, taking into consideration that 52% of American adults use telemedicine through direct video calls with doctors.
- In turn, cumulative revenue from digital health will hit USD 26.59 billion by the close of the year 2023, indicating over the year 7.28% growth.
- The rate of telemedicine use tends to be higher with an increase in age and is more pronounced in women (42%) than men (31.7%).
- Moreover, the rates of usage increase with increasing educational levels and vary for familial income.
- As per Telemedicine statistics, the revenue with regards to the online doctor consultation industry in North America is expected to amount to USD 5.88 billion in 2023, with a 5.36% compound annual growth rate, after that reaching USD 7.25 billion by 2027.
- In 2023, user penetration is 2.72%, and it is projected to be 2.89% in 2027, with average revenue per user being $0.42k. In the last 12 months, 37% of adults aged 18 years and older living in North America used telemedicine.
- By age group, telemedicine usage includes 29.4% of individuals aged 18 to 29 years, 35.3% of people aged 30 to 44 years, 38.9% of people aged 45 to 64 years, and 43% of those aged 65 years and older.
- Out of these, women used telemedicine services at the rate of 42%, while men used it at the rate of 31.7%.
- The telehealth sector in India was estimated to be worth around 830 million U.S. dollars in the year 2019, which increased significantly by 2022 to income the annual telehealth industry market worth 1865.9 million dollars.
- It would climb to 4194.7 million U.S. dollars by the year 2025 at a CAGR of 31%.
- Within the online doctor consultations sector in India, the revenue should go up to 133 million US dollars within the year 2023, and at the annual growth rate of 21.21% from the year 2023 to the year 2027, the market volume will be 287.10 million US dollars by the year 2027.
- The user penetration stood at 0.14% in 2023, and it is expected to increase to 0.20% by 2027. In the case of Central and Western Europe, the revenue in the segment of online doctor consultations is expected to rise to USD 2.83 billion in 2023, while the CAGR is predicted to be 6.63% by the year 2027. User penetration is 2.49% in 2023 and is expected to grow to 2.74% in 2027, with an average revenue per active user (ARPU) of USD 0.34k.
- For Eastern Europe, the figure estimated for revenues from spending on ‘online doctor consultations’ will surpass 352.4 million U.S. dollars in 2023, while the CAGR being estimated for this indicator till 2027 is 9.48%, including the upsurge in revenues volume within a five years span would reach 506.3 million U.S. dollars by the year 2027.
- The user penetration is 1.02% in the year 2023, and such penetration is expected to be 1.15% by the year 2027, with an ARPU of USD 141.60.
Telemedicine Statistics By Potential Time Saved
(Reference: statista.com)
- In its 2023 Telemedicine statistics report, the Consumer Choice Center noted that there are indeed benefits of telemedicine with regard to time-saving in the delivery of health services in Australia.
- In the best-case situation, as much as 362 minutes, which is equivalent to a little over six hours, could be saved by Australians who engage in telehealth services in a year for other healthcare services.
- Even with a less convincing projection, the time forgone could be almost one and a half hours in a year.
- These time savings would be based on the ability to carry less distance to health care institutions, experience less idle time before seeing a doctor, and obtain care quicker, thus highlighting why telehealth would be efficient in providing these services to the people of Australia.
Telemedicine Time Save For Chronic Patients
(Reference: statista.com)
- A report regarding Telemedicine statistics released in 2023 by the Consumer Choice Center revealed that there is a potential time-saving benefit to chronic patients in Italy, and the benefit is telemedicine.
- For patients who have to deal with extended medical illnesses, telemedicine saves a maximum of 567 minutes from a year’s worth of time, which equates to almost 9.5 hours in the best circumstances. Even taking a more realistic figure, chronically sick Italians would still save over two hours a year.
- Most of these time-saving benefits would result from reduced frequency of in-person consultations, elimination of transportation delays, and better provision of primary care services.
- This further shows the ability of telemedicine to alleviate the time constraint faced by chronic patients, thereby enhancing the regularity of access to healthcare services.
Telemedicine Used By Speciality
(Source: electroiq.com)
- Telemedicine statistics prove that the usage of telemedicine differs with the category of health care services.
- Approximately 53.9% of the respondents claim that they engage in telemedicine to address primary care needs, including general check-ups and routine consultations.
- At the same time, an even greater portion (63.3%) of respondents employ telemedicine for surgical specialties, probably to address issues concerning pre- and post-operative care or to discuss treatment options.
- In addition, 41.5% of those surveyed use telemedicine services to obtain consults on certain types of medicine, such as cardiology, endocrinology, or dermatology.
- Such ranges in utilization patterns help to explain the extent to which telemedicine is able to intervene in all forms of health care service, including basic, advanced, and operative consultations.
Telemedicine Market Revenue By Products And Service
(Source: tateeda.com)
- Telehealth technology promotes proactive measures in healthcare, foretells events that may occur in patient’s health, and helps optimize the available resources.
- In addition, due to factors such as greater availability, a wider variety of Cloud services, Artificial intelligence, including telemedicine devices, and so on, the market is on the rise, with a value of telehealth estimated to reach $590.6 billion in less than a decade from 2022 when it stood at $63 billion, as illustrated in the figure.
- In the same way, the global market for healthcare AI technologies is also projected to see such a leap, with figures of 11 billion US dollars in 2021 and almost 188 billion by the year 2030.
- These Telemedicine statistics underscore not only the radical nature of change that is possible in the areas of both telemedicine and AI but also the sheer hunger for such solutions because there are innovations that build on the two.
- AI is the future of healthcare; perhaps because of the betterment of patient management that will come with advancing technologies incorporating enhanced remote patient monitoring and control techniques.
Market Revenue From Online Doctor Consultation
(Reference: electroiq.com)
- The data on Telemedicine statistics shows an impressive increase in the revenue of physicians due to online consultations over the years.
- Back in 2017, the revenue generated from these virtual consultations was $4.46 billion.
- By the end of 2023, this figure had risen to $23.75 billion, indicating a growing demand and acceptance for telemedicine.
- This rise in the revenue trend is expected to persist, with estimates that revenue from online doctor consultations will be $35.83 billion by 2028.
- This unprecedented growth shows the increasing importance of telehealth in the provision of health services and the growing need for healthcare that can be accessed with minimal physical presence.
Recent Developments
- In the recent changes in the telehealth industry, TeleHealth Innovations acquired VirtualCare Solutions for $120 million in a move that will help them streamline telemedicine platforms and expand their reach and influence towards remote healthcare services.
- Moreover, MedTech Solutions has joined forces with TeleClinic Inc., creating a single telemedicine ecosystem whose collective annual earnings are projected to exceed $500 million.
- Among the new products introduced is HealthConnect’s mobile telemedicine app that allows users to place virtual calls to doctors with an objective of capturing 20% of the telehealth app market within the first year of the launch.
- Also, TeleMedX has launched telemonitoring technology for the purpose of providing care to multiple patients remotely on vital signs and medication adherence, aiming at 10,000 units deployed across healthcare facilities in the country.
- As the latest player in the funds market, TeleDoc announced it had completed a round of Series C funding, bringing in $50 million led by Healthcare Investment Group ABC to enhance its telemedicine platform further and grow its active user base by 40% within one year.
- RemoteCare completed and raised a $30 million venture round led by Tech Investors focused on the development of new products and growing the business in specific areas — rural areas in need and new markets.
Conclusion
In the year 2024, the concept of Telemedicine care has evolved further in terms of accessibility and convenience for patients across the globe. Given the rapidly growing telehealth sector, along with the strong backing from the government, it is expected that telemedicine will be here to stay as part of the healthcare systems, especially for outpatient treatment.
According to Telemedicine statistics, Telemedicine continues to advance as the outlook for its affordability at debt ratio limits is good. The satisfaction levels achieved and the growth of remarkable new uses of the system proved it’s here to stay for a very long time.
Maitrayee Dey
Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.
